Saturday, June 4, 2011

Nigeria shortlists bids for power privatisation

LAGOS, June 1 (Reuters) - Nigeria's privatisation agency has shortlisted 525 bids for the next round in the process of privatising its electricity sector, the Bureau of Public Enterprises said on Wednesday.

The BPE said in March it had received 174 expressions of interest for four thermal and two hydro power stations, and 157 applications for the 11 distribution firms being offered as part of a multi-billion dollar privatisation plan. [ID:nLDE7250IW]

It said some of the bidding companies had expressed interest in more than one asset and that the actual number of firms to have made bids would be published next week.

Successful bidders will be required to pay a $20,000 fee for each asset they want to buy and sign a confidentiality agreement before receiving bid documents.